Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Given Average Rating of “Strong Sell” by Brokerages

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) has been assigned an average recommendation of “Strong Sell” from the eight analysts that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $26,072.00.

Separately, Morgan Stanley reaffirmed an “underweight” rating and set a $4.00 price objective on shares of Maxeon Solar Technologies in a research report on Friday, November 15th.

Maxeon Solar Technologies Price Performance

MAXN opened at $5.91 on Wednesday. Maxeon Solar Technologies has a 12 month low of $4.98 and a 12 month high of $602.00. The stock has a market capitalization of $3.25 million, a price-to-earnings ratio of -0.01 and a beta of 1.35. The business has a fifty day moving average price of $7.31 and a 200 day moving average price of $614.41.

Maxeon Solar Technologies (NASDAQ:MAXN) last released its quarterly earnings data on Thursday, December 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($11.50) by $11.03. Maxeon Solar Technologies had a negative return on equity of 1,598.11% and a negative net margin of 94.16%.

Institutional Trading of Maxeon Solar Technologies

Large investors have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in Maxeon Solar Technologies during the 3rd quarter valued at approximately $204,000. Verition Fund Management LLC purchased a new stake in Maxeon Solar Technologies during the 3rd quarter valued at approximately $113,000. Finally, XTX Topco Ltd raised its stake in Maxeon Solar Technologies by 343.8% during the 3rd quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock valued at $65,000 after acquiring an additional 522,830 shares during the last quarter. 47.67% of the stock is owned by institutional investors and hedge funds.

About Maxeon Solar Technologies

Maxeon Solar Technologies, Ltd. designs, manufactures, markets, and sells solar panels and related solar system components worldwide. The company provides interdigitated back contact and shingled solar cells and panels under the SunPower brand. It offers its products to dealers, project developers, system integrators, distributors, resellers, and residential and small-scale commercial customers.